Oil and Gas: Basics, the Value Chain, and Upstream Issues

This is the first of a two part series from the Energy and Natural Resources group.

This session discusses the basics of the oil and gas extraction industry from a legal perspective, including exploration and production in the US and several other jurisdictions. The segment will focus on upstream issues (the mineral estate, leasing and working interests in the US, and licenses, concessions, risk agreements and Product Sharing Agreements (PSAs) in selected jurisdictions outside the US) as well as SEC regulations that govern booking reserves (claiming oil and gas assets on a company’s balance sheet). Also explored will be issues surrounding fracking, joint venture and joint operating agreements and the basics of Liquefied Natural Gas (LNG).